Dimensional Fund Advisors LP Purchases 6,323,715 Shares of Cleanspark, Inc. $CLSK

Dimensional Fund Advisors LP increased its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 81.3% in the first quarter, Holdings Channel reports. The fund owned 14,102,777 shares of the company’s stock after purchasing an additional 6,323,715 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of Cleanspark worth $120,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CLSK. KBC Group NV increased its position in Cleanspark by 10.7% during the 1st quarter. KBC Group NV now owns 8,574 shares of the company’s stock valued at $73,000 after purchasing an additional 828 shares during the period. Diversify Wealth Management LLC purchased a new position in Cleanspark during the first quarter valued at approximately $641,000. Fifth Third Bancorp increased its holdings in Cleanspark by 2,122.3% during the first quarter. Fifth Third Bancorp now owns 63,581 shares of the company’s stock valued at $541,000 after buying an additional 60,720 shares during the period. R Squared Ltd bought a new position in Cleanspark in the first quarter worth approximately $122,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Cleanspark by 60.0% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 32,000 shares of the company’s stock worth $272,000 after buying an additional 12,000 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Down 3.4%

Cleanspark stock opened at $14.02 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -6.68 and a beta of 3.83. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The business has a fifty day moving average price of $15.45 and a 200-day moving average price of $12.60.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. During the same period in the prior year, the company earned ($0.49) earnings per share. The company’s quarterly revenue was down 24.9% on a year-over-year basis. Equities research analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CLSK shares. Needham & Company LLC increased their target price on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. HC Wainwright reissued a “buy” rating on shares of Cleanspark in a research report on Tuesday, July 14th. BTIG Research restated a “buy” rating and set a $26.00 price objective on shares of Cleanspark in a research note on Tuesday, July 14th. Maxim Group raised their price objective on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Cleanspark Company Profile

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.